Member's Section FAQ

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1. I have questions on how to file my MFR on SIRFF.  Who do I contact?

SIRFF queries should be directed to the SIRFF Administrator Tracey Nattrass by telephone at 416-643-7100 or by e-mail at Tracey Nattrass.

2. I forgot my SIRFF password.  What do I do?

Please use the “Forgot Password?” link from the SIRFF home page. You will be asked to enter your SIRFF Login Name. The system will generate a new password and send it to the email address associated with your account. [If this email address is not valid or if your account is disabled, you will receive an error message.]

In the event that you cannot use the “Forgot Password?” link, please contact your Chief Financial Officer who has the necessary privileges to add, delete and modify user accounts within your firm profile.

If you are the Firm CFO, e-mail a request to reset your password to the SIRFF Administrator, Tracey Nattrass. The email must include your SIRFF Login Name.

3. How does CIPF inform members of the quarterly assessment amount members must pay to CIPF?

CIPF notifies each member CFO by e-mail when the CIPF quarterly assessment amount is available on SIRFF.  The CFO can then log into SIRFF and view the assessment reports that detail the quarterly assessment calculation.  The assessment is to be paid to IIROC with filing of the March, June, September and December Monthly Financial Reports (MFR).

CIPF Disclosure Policy - Effective January 1, 2017 (and amended as of May 1, 2017)

General

4. What is the relationship between the IIROC rules on CIPF disclosure and the CIPF Disclosure Policy?

Prior to January 1, 2017, CIPF relied on IIROC to enforce the CIPF membership disclosure requirements through Rule 29.14. As of January 1, 2017, the sections of Rule 29.14 relating to CIPF disclosure were repealed. A new Rule 29.28 refers members to the CIPF Disclosure Policy for information regarding compliance with CIPF membership disclosure requirements.

5. What does the Disclosure Policy mean when it says that “communication about CIPF Coverage must be done in the same language as other communication from the member to the client”?

This means that the member must communicate about CIPF in the language that it usually uses in its dealings with client(s). For example, if the member usually communicates to the client in French, then communication about CIPF Coverage must be done in French.

6. Can a CIPF member, who enters into an agreement with a portfolio manager (PM) to provide custodial services to the PM and its clients, provide the PM’s contact information on its account statements?

PM contact information may be included in an account statement. However, members must comply with the General Principles of the CIPF Disclosure Policy in their communications with clients, including account statements, which prohibit members from making any false, misleading or deceptive statements about the purpose of, or protection provided by, CIPF.

For example, CIPF does not cover losses arising from the insolvency of a PM. CIPF members should not make any statements that suggest or imply that CIPF coverage applies to losses arising from the insolvency of a PM. CIPF coverage applies only if the investment dealer becomes insolvent, not the PM.

7. What does the Disclosure Policy mean when it says “any material created by the Member for broad distribution must be approved by CIPF in advance”?

This means that the following materials must be approved by CIPF before distribution. Materials that:

  1. were not created by CIPF
  2. contain references to CIPF other than the CIPF Membership Symbol and CIPF Explanatory Statement, and
  3. will be broadly distributed.

We would be happy to work with you regarding any material that you wish to distribute that contains information about CIPF beyond the CIPF Symbol and Explanatory Statement. Please contact us at info@cipf.ca for approval.

Please note that CIPF takes the position that a website is “material created for broad distribution”. Please refer to FAQ No. 14.


CIPF Official Brochures

8. How do I order an electronic CIPF brochure?

Electronic versions of the CIPF Official Brochures are available exclusively for CIPF members and must be purchased directly from CIPF’s designated printer using the order form located here. The printer will provide the PDF to the member for distribution.

9. Can a member’s trade name or division name be imprinted, stamped or printed on the CIPF Official Brochure?

Only the legal name of the IIROC-regulated firm can be imprinted, stamped or printed on the CIPF Official Brochure.

10. Are trade names or divisions of members required to distribute the CIPF Official Brochure?

Trade names or divisions of members are not obligated to distribute the CIPF brochure to clients under the CIPF Disclosure Policy. If the member’s trade name or division distributes a CIPF brochure, that brochure must be imprinted, stamped or printed with the name of the legal entity that is the IIROC member.

11. Is a print-out of the PDF version of the CIPF Official Brochure considered to be an official version?

Yes. Under the CIPF Disclosure Policy and CIPF Supplemental Guide to the CIPF Disclosure Policy (effective January 1, 2017 and amended as of May 1, 2017), a print-out of the PDF version purchased from CIPF’s printer of the CIPF Official Brochure can be provided to clients and is considered to be an official version of the CIPF Official Brochure. Please note that you must not change any aspect of the PDF received from CIPF’s designated printer.

12. Can I provide clients with an electronic or hard copy of the CIPF Official Brochure as part of a client application package?

Yes. The CIPF Official Brochure may be included in a client application package only if:

  • You do not change any aspect of the CIPF Official Brochure;
  • The pages of the CIPF Official Brochure are not presented on the same page as other content in the client application package. For example, in a double-sided package, the CIPF Official Brochure cannot be imprinted on the back of a document that is not the CIPF Official Brochure; and
  • The CIPF Official Brochure is imprinted, stamped or printed with the legal name of the IIROC-regulated firm.

13. I have a large inventory of the previous CIPF brochure remaining. Can I still distribute them?

Members may continue to use their existing inventory of CIPF brochures (dated June 2014) until June 30, 2017. After June 30, 2017, members must distribute the CIPF brochure dated December 2016.


Websites

14. Is a website considered to be “material created for broad distribution”?

Yes. CIPF takes the position that a website is “material created for broad distribution” under section 8(a) of the CIPF Disclosure Policy. As a result, any explanations about CIPF and its protection to clients (other than the approved CIPF Explanatory Statement) must be approved by CIPF in advance.

We would be happy to work with you regarding any additional material that you wish to add to your website beyond the CIPF symbol and explanatory statement. Please contact us at info@cipf.ca for approval.

15. Can a member’s trade name or division name display the CIPF logo on its website?

Only the legal name of the IIROC-regulated firm can use the CIPF logo on their website.

For example, the wealth management division of a combined financial institution group website is not permitted to have the CIPF logo on its website – only the investment dealer arm of the group that is the IIROC-regulated firm may display the CIPF logo.


CIPF Official Symbol

16. How can I obtain a higher quality version of the CIPF logo?

The Chief Financial Officer or Chief Compliance Officer that is registered with IIROC should email us at info@cipf.ca to request the file, or be copied on the email request.

Please specify the desired format (eps, jpeg or gif), colour variant (black, reverse white, black and taupe), and language (English, French, bilingual) in your request.

17. Where can I find information on the required format, colour, and size of the CIPF Official Symbol?

The CIPF Supplemental Guide to the CIPF Disclosure Policy available here specifies the format, colour and size requirements for the CIPF Official Symbol.